Resource World Magazine

j u n e / j u l y 2 0 1 4 www.resourceworld.com 15 Carpenter Lake property and has an option to acquire 60% interest in the property, located northeast of Fission Uranium's PLS property, from Noka Resources. Anthem Resources Inc. [AYN-TSXV; VAERF-OTCQX] announced April 3, 2014 assay results from a 2,025-metre, 10-hole drill program on its Hatchet and Murphy JV (41% Anthem Resources/59% Denison Mines, operator) where, "mineralization was intersected at Richardson Lake and a new zone of mineralization in graphitic pelite was discovered further south on the Richardson trend. Anthem also has the Fond Du Lac, Web River, and Fir Island projects in the basin, as well as the Karpinka JV (50% Anthem Resources – 50% Forum Uranium). AREVA Resources Canada Inc., one of the world's largest uranium producers, is part owner of the Cigar Lake, McArthur River and Key Lake uranium projects in Saskatchewan. The company produced 9,330 tonnes of uranium in 2013. AREVA explores for uranium in Saskatchewan and Nunavut and operates uranium mines in Canada, Kazakhstan and Niger. Ashburton Ventures Inc.'s [ABR- TSXV; ASHXF-OTC] 100%-owned Sienna Project includes the 147-hectare Sienna West Uranium Project contiguous with the northern boundary of the Fission Uranium's PLS Project. Radioactive boul- ders were analyzed for uranium and two reported 12.4 and 184.5 ppm U, with the latter in an area where high radon counts were also detected. Athabasca Nuclear Corp. [ASC-TSXV], a member of the Western Athabasca Syndicate, has several 100%-owned ura- nium properties the eastern, western and northern perimeters of the basin: Patterson Lake East, Botham Lake, Karras River, Martin River, Parry Lake and Spring. Athabasca Uranium Inc. [UAX-TSXV; ATURF-OTC Pink] completed a multiphase airborne V-TEM survey on its McGregor Lake, Fisher River and Keefe Lake uranium projects in the Athabasca Basin where identified targets will be a top priority in a proposed Keefe Lake Phase III drill pro- gram in 2014. A study by the University of Saskatchewan's GeoSciences team contrib- uted to the identification of drill targets. Azincourt Resources Inc. [AAZ-TSXV; AZURF-OTC Pink] has the option to earn up to a 50% interest in Fission Uranium's 27,000-hectare, Patterson Lake North Project in the Athabasca Basin which is immediately adjacent to Fission Uranium's PLS property. The companies recently announced the results of the winter drill, radon survey and ground geophysical pro- gram. Azincourt also has an early-stage, 9,600-hectare, uranium project in south- east Peru. Belmont Resources Inc. [BEA-TSXV; L3L-FSE] has a signed a deal to acquire 50% interest in the Crackingstone prop- erty (International Montoro Resources 50%) in northern Saskatchewan near Uranium City and the companies have sub- sequently staked 11,109 hectares (Orbit Lake) north and west of the claim block. Bannerman Resources Ltd. [BAN-TSX; BMN-ASX] owns 80% of the Etango ura- nium project in Namibia, Southern Africa. The company describes the property as "one of the world's largest undeveloped uranium projects." A 2012, definitive fea- sibility study describes an open pit mine with conventional heap leach producing 6-9 million pounds U 3 O 8 per year. On March 13, 2014, Cameco Corp. [CCO-TSX; CCJ-NYSE] announced that ore production had begun its Cigar Lake uranium mine in northern Saskatchewan. Ore is being transported to the McClean Lake mill operated by AREVA Resources Canada, 70 km northeast of the mine site. The McClean Lake mill is expected to begin processing ore by mid 2014 and is expected to produce between 2 million and 3 million lbs of uranium concentrate in 2014 and to ramp up to a full produc- tion rate of 18 million lbs by 2018. CanAlaska Uranium Ltd. [CVV-TSXV; CVVUF-OTCQB] is exploring the Athabasca Basin and holds one of the largest land posi- tions there, up to 2,100,000 acres or 8,720 km 2 . Their key properties in the basin are the West McArthur and Cree East Projects. CanAlaska also holds the NW Manitoba Project 90 km southwest of Eagle Point Uranium's mines. The company has spent $86 million on exploring and identifying high-grade uranium targets. Denison Mines Corp. [DML-TSX; DNN-NYSE MKT] has interests in explo- ration and development projects in Canada which include 45 projects total- ing ~584,000 hectares in the Eastern Athabasca Basin. Denison has a 22.50% interest in the McClean Lake uranium pro- cessing facility and uranium deposits, a 25.17% interest in the Midwest uranium project, including the Midwest and the Midwest A deposits and a 60% interest in the Wheeler River Project which includes the Phoenix deposit. Also in the Athabasca Basin, Denison's projects include: Moore Lake (100%), Waterbury Lake (60%), Hatchet Lake (50%), Park Creek (49%), Bell Lake (100%) and Wolly (22.5%). Denison also has an equity interest in International Enexco Ltd, a junior exploration com- pany who is a party to the Mann Lake Joint Venture (30%). On April 14, 2014, Denison announced the signing of a definitive agreement for the acquisition of International Enexco Ltd. Denison also owns the Mutanga uranium project in Zambia, the Falea ura- nium, silver and copper project in Mali, and interests in exploration properties in Namibia, Niger and Mongolia. Energy Fuels Inc. [EFR-TSX; UUUU- NYSE MKT] operates the Arizona One and Pinenut uranium mines in northern Arizona. The Arizona One Mine is expected to continue to produce until mid 2014 when it is expected that resources will be depleted and the Pinenut Mine will be closed around the same time due to market conditions. Energy Fuels owns and operates the White Mesa Mill, the only conventional uranium

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